Thank you to everyone who joined AMA Blockelite x Venice Finance on 20th December at 01:00 PM UTC I 08:00 PM (UTC+7). Here is the recap for those who missed this AMA.
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Yuno – Blockelite Host: Hello fellow Eliters and welcome to another Blockelite AMA Series
So ladies and gents, Our special guest today is Alex Park – Head of Marketing of Venice Finance
Hello @alexpark7 , welcome to Blockelite today
Alex Park – Head of Marketing of Venice Finance: Hey there
Really glad to be here
Yuno – Blockelite Host: Thanks for joinning today and How are you today?
Alex Park – Head of Marketing of Venice Finance: Really great
feeling excited to have a opportunity of AMA here
Yuno – Blockelite Host: So great!!!
On to the Segment 1 of our AMA, we hope you’re ready for the next few questions coming at you!
Our guest is ready, we will enter Segment 1 right now !!!
Q1. Can you please introduce yourself and share a quick overview of Venice Finance?
Alex Park – Head of Marketing of Venice Finance: for sure
Hi Everyone, this is Alex Park, Head of Marketing at Venice Finance At Venice Finance, I am leading the marketing and growth team to pioneer and innovate the blockchain ecosystem.
After graduating from USC in 2013, I have spent almost 7 years in the Fintech industry and got involved in the Blockchain field in 2019. Before joining Venice, I was the Chief Marketing Officer for a cross-border payment company based in Asia, where I gained valuable insights on the friction & pain points of the legacy payment system. I certainly understand the need to revolutionize every block in the #TradFi system and how blockchain helps transform it with more decentralization and transparency; also, after so many years of experience dealing with kyc providers and capricious regulations, I also understand the importance of privacy preservation to build a real, open, decentralized financial system.
Venice is the next-generation, Zero Knowledge powered decentralized exchange, primarily focused on privacy preservation, front-running resistance and cross-chain liquidity aggregation. At launch, Venice will be the first front-running resistant, privacy-preserving Automated Market Maker (AMM) Decentralized Exchange (DEX) in the world. Venice is an innovative project on the market that has made huge strides over a short period of time compared to other similar projects.
Yuno – Blockelite Host: Thank you, for your introduction, our pleasure to have you join us today
Next question
Q2: Can you explain why you chose to build Venice Finance as the first dex on Findora? What is your plan on connecting & bridging to the other ecosystems including popular blockchains like ETH, BSC, Polygon, Solana,…?
Alex Park – Head of Marketing of Venice Finance: Findora utilizes the latest breakthroughs in zero-knowledge proofs, Bulletproofs, and multi-party computation, to allow users transactional privacy with selective disclosure and auditability. This is the biggest advantage of Findora over other public blockchains.
Therefore, based on Findora, Venice could offer a programmable & composable privacy solution for liquidity migration across all blockchain bridges. Venice aims to be the Chain-agnostic Liquidity Hub, where users can frictionlessly and teustlessly move liquidity inter-ecosystem without revealing their position or identity.
Additionally, Findora Foundation has committed $10 million worth of liquidity from its $100MM+ Ecosystem Fund towards the Venice launch.
Yuno – Blockelite Host: Nice news 😀
Thanks for answer 🙂 next question
Q3. Compared to the existing AMM DEX in the market, what advantage does Venice Finance have?
Alex Park – Head of Marketing of Venice Finance: Well, as the first front-running resistant, privacy-preserving AMM DEX, Venice stands out because of three strength as follows:
First, advanced cryptography algorithms including Bulletproofs, Turbo-PLONK, MPC, etc. to encrypt smart contract inputs. Venice enjoys a function of front-running resistance and full anonymity to protect users from value extracting players.
Second, community-Oriented Governance as VENI’s innovative deflationary tokenomics design and game-theoretic-inspired mining mechanism guarantees long-term sustainability of Venice protocol. We let venetians collectively decide on the optimum solution for the protocol through farming, staking and voting.
Third, chain-agnostic liquidity hub. Venice allows users to frictionlessly and trustlessly move the liquidity inter-ecosystem without revealing their position or identity. Findora Foundation has committed $10 million worth of liquidity from its $100MM+ Ecosystem Fund towards the Venice launch.
Yuno – Blockelite Host: Sounds great 🙂 I think you can see Venice Finance have more advantage in the future, so look forward to it
Next question
Q4. What’s the Venice business model?
Alex Park – Head of Marketing of Venice Finance: Basically, Venice Finance is governed and controlled by $VENI – the governance token for Venice Finance. Users of Venice Finance can earn $VENI to participate in shaping the future of the first front-running resistant, privacy-preserving AMM DEX.
VENI’s governance is community-oriented. VENI’s innovative deflationary tokenomics design and game-theoretic-inspired mining mechanism guarantees long-term sustainability of Venice protocol. We let venetians collectively decide on the optimum solution for the protocol through farming, staking and voting.
Total supply of $VENI is set at 1,000,000,000. This amount is a non-inflationary fixed supply set at launch. 10% of the $VENI supply was distributed at the genesis event to Venice liquidity providers and stakers. The remaining 90% is distributed over the course of four years.
Currently 0.3% trading fees are reinvested back in the liquidity pools providing income for LPs in addition to LP rewards. We are looking to use a portion of trading fees for $VENI buyback. This would be a feature upgrade that $VENI holders would vote on.
A unique feature of Venice is the$VENI governance token which enables changes to Venice protocol code via proposals. Approximately 25% of $VENI distribution over the next four years will be allocated to a development pool which will fund future product development, marketing, rewards, and liquidity provider acquisition. In the spirit of decentralization, we want $VENI stakeholders to play an integral role in the direction of Venice Finance.
We design this to balance value capture and to award long time investors. Several KOL and investors including DHVC and Findora discussed this innovative token economics.
Yuno – Blockelite Host: Thanks, continue with Q5
Q5. Can you share the upcoming roadmap of Venice Finance?
Alex Park – Head of Marketing of Venice Finance: Venice is designed to function as the first front-running resistant, privacy-preserving AMA DEX offering unique functionalities such as advanced cryptography algorithms including Bulletproofs, Turbo-PLONK, MPC, etc. to encrypt smart contract inputs. Venice will launch different versions on Testnet and Mainnet, and integrate bridge to Ethereum and BSC, Bitcoin, Harmony and Arbitrum, and Polygon. We will receive $10 million liquidity in Governance & VENI community DAO provided by Findora Foundation. We plan to and roll out single-sided liquidity provision, staking rewards auto-compounding, stablecoin swap , and the launchpad for new project incubation next year. Going forwards, we expect community members to participate.
So far everything is going as per the roadmap as follows
Yuno – Blockelite Host: Okay, last question in segment 1
Q6. I just know that Venice Finance announced it will do IDO at Tokensoft soon. Can you give us some details about IDO?
Alex Park – Head of Marketing of Venice Finance: Sure. Please stay tuned for further announcements. Please check https://testnet.venice.finance/ for beta product on testnet.
Please visit us at Venice Finance for official site updates
Join our telegram channel at: https://t.me/venicefinance
Join our telegram Announcement: https://t.me/venice_finance
Join Our discord at: https://discord.gg/CbCDJvk3
We will post daily updates about our product, roadmap and also we have various different campaigns coming up! So stay tuned for more information 🙂
Yuno – Blockelite Host: We wrapped up nicely the first part.
Are you ready for Segment 2 (5 best questions from twitter)?
Alex Park – Head of Marketing of Venice Finance: for sure!!!
Yuno – Blockelite Host: Before starting, The Live segment will be hosted in https://t.me/venicefinance , please join and prepare questions
Our guest is ready, we will start Segment 2 right now !!!
Q1: Venice (the city, not the DEX) was once one of the world’s leading commercial and trading centers. But why has your project been inspired by this great city? What is the story behind this inspiration and why have you decided to take it as a guide for your project?
Alex Park – Head of Marketing of Venice Finance: Venice also know as “City of Water” and ,exactly, it was a leading commercial center. We wish Venice to be the same, became the “City of Liquidity” and the leading decentralized trading center.
Yuno – Blockelite Host: Perfect, next question
Q2: Do you take into account any of the community feedbacks or demands to further expand the new ideas for the project?
Alex Park – Head of Marketing of Venice Finance: Yes, of course. Venice is a community driven project. We are always happy to get any feedbacks and advice regarding future developments. Please join our community on telegram and Discord to get in touch.
Yuno – Blockelite Host: Next question
Q3: What gives the #VeniceFinance value? What is its role in your ecosystem? Can you name some of the advantages of holding a $VENI in the long run? What important achievements does Venice Finance have?
Alex Park – Head of Marketing of Venice Finance: As I said, Venice is the next-generation, Zero Knowledge powered decentralized exchange, primarily focused on privacy preservation, front-running resistance and cross-chain liquidity aggregation. Also, Venice is the first DEX on Findora network. It will become the trading center of Findora Ecosystem.
Yuno – Blockelite Host: Continue with Q4
Q4: What are Venice Finance plans for global expansion, what are your currently focusing on, expanding or listing more exchanges, or building your ecosystems or marketing and partnerships?
Alex Park – Head of Marketing of Venice Finance: Currently we are focusing on development and IDO at Tokensoft. Please check https://testnet.venice.finance/ for Venice (VENI) Public Sale KYC and follow social platforms for latest development news.
Yuno – Blockelite Host: Ok, last question of this segment, everyone please prepare good questions for segment 3. And the segment 3 will be hosted in https://t.me/venicefinance
Q5: Hello sir. Audit play an important role in enhancing the stability of any Project. Do you have Audit Certificates. Or are you working to Audit your project to make it more secure and reliable?
Alex Park – Head of Marketing of Venice Finance: We value our platform’s user data very much. And we understand in defi space there are many projects that get hacked on a day-to-day basis. That is why we are partnering with some of the top name audit companies around the globe, to ensure that we get not only just 1 audit done with our code but various audits through different companies.
Yuno – Blockelite Host: You are awesome, thanks for answer all 5 best questions from twitter of my community.
Last Segment for AMA today, The guests will select 5 best questions from the community.
Blockelite community:
How can I join the pre-sale or IDO? What is extimated date Where can I buy your Tokens ?
Alex Park – Head of Marketing of Venice Finance: We will conduct our IDO on Tokensoft, please follow our social platforms for future announcements.
Blockelite community:
Can you tell us about the background and experience of your project DEVELOPMENT TEAM? And how will they carry out your project during the current pandemic?
Alex Park – Head of Marketing of Venice Finance: for sure, We are an elite group of world-class engineers, researchers, business operators, and investment professionals. The Venice contributors team has more than 80 years of combined leadership experience in fintech, financial engineering, and cryptography, with experience from top-tier schools/institutions/corporates including UC Berkeley, Yahoo, Stanford University, Columbia, EY, Deloitte, MUFG, CITI Group, Plug&Play, etc.
Tanmay, engineering advisory. Tanmay has past experience being a senior software developer on OneLedger; Research Scientist for Conduent.
Taylor, a UC Berkeley graduate with an Architecture background who had previously worked as a private consultant for 2 years. Taylor joined Venice to use his project management skills to strengthen the team and help the team work more efficiently.
Oleks, front-end engineer. Oleks has 18 years of experience in the IT industry with multiple languages and tools. Before joining Venice, Oleks has past experience in Findora and another blockchain project where he built a wallet and worked a lot on improving and extending their block explorer. Oleks has also implemented Ledge integration into the wallet, and built a wallet chrome extension and worked on maintaining and supporting their SDK.
Sergio, cryptography advisory at Venice. Sergio worked as an innovation cryptography manager. He had led a team of developers to implement cryptography algorithms and explored prosing blockchain applications to the business using SAFe methodology for development.
Andy, general advisor. Andy Freeman is a lecturer in the Electrical Engineering Department at Stanford and a member of Silicon Catalyst and Sand Hill Angels.
Blockelite community:
Almost 4/5 of investors are focused purely on the price of token in short term instead of understanding the real value and health of the project. Could you tell us on motivations and benefits for investors to hold your token in long term?
Alex Park – Head of Marketing of Venice Finance: People could hodl their token and participate Liquidity Mining with $10M rewards.
Blockelite community:
What are your upcoming plans for the community and as well with the ecosystem?
Alex Park – Head of Marketing of Venice Finance: Venice is 100% community driven projects and we are planning on governance by DAO.
Blockelite community:
What is the Best way to follow All your Upcoming news and updates? What are your plans in coming Future?
Alex Park – Head of Marketing of Venice Finance:
Please visit us at Venice Finance for official site updates
Join our telegram channel at: https://t.me/venicefinance
Join our telegram Announcement: https://t.me/venice_finance
Join Our discord at: https://discord.gg/CbCDJvk3
We will post daily updates about our product, roadmap and also we have various different campaigns coming up! So stay tuned for more information 🙂
Thanks all for joining the AMA.
Yuno – Blockelite Host: Our AMA session is now over !!!
